Jamie Raskin Slams Big Oil For 'Lying' About Climate Change: 'They Acted Like Maleficent...And Cursed Everyone To Try To Go To Sleep For 100 Years'
Portfolio Pulse from Benzinga Neuro
Rep. Jamie Raskin criticized the petroleum industry for deceiving the public about climate change, hindering progress on addressing the crisis. During a Senate Budget Committee hearing, Raskin highlighted a report from a three-year investigation into the industry's evasion of climate responsibility, naming Exxon, Chevron, Shell, and BP among those obstructing the investigation. This comes as the world shifts away from fossil fuels, aiming for a 'net zero' carbon emissions target by 2050.
May 02, 2024 | 1:26 pm
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NEGATIVE IMPACT
BP is accused in a report of delaying climate change action, which could lead to reputational damage and regulatory issues.
BP's alleged actions to delay climate change initiatives, as per the report, could result in reputational damage and increased regulatory scrutiny, likely negatively impacting its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Chevron is implicated in a report for obstructing climate change investigations, which may affect its public image and regulatory compliance.
Chevron's inclusion in the report for evading climate responsibility could lead to negative public perception and stricter regulations, potentially harming its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Shell is named in a report for misleading the public on climate change, possibly facing future legal and regulatory challenges.
Shell's alleged involvement in deceiving the public about climate change, as highlighted in the report, may lead to increased legal and regulatory pressures, negatively affecting its stock in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Exxon is accused of deceiving the public about climate change, potentially facing increased scrutiny and regulatory challenges.
The accusations of deceit by Rep. Raskin, based on a comprehensive report, could lead to increased regulatory scrutiny and public backlash against Exxon, negatively impacting its stock in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90